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Director, Asset Management

Company: Rock Central LLC
Location: Detroit
Posted on: May 28, 2023

Job Description:

About Bedrock:Bedrock is a full-service real estate firm specializing in innovative city-building strategies, reaching far beyond the boundaries of bricks and mortar. Since its founding in 2011, Bedrock and its affiliates have invested and committed more than $5.6 billion to acquiring and developing more than 100 properties in Detroit and Cleveland, including landmark developments at the, therestoration,and the May Company Building. Bedrock's portfolio totals more than 22 million square feet of office, retail and residential space within new construction and adaptive reuse projects.For more information on Bedrock's projects, visitor engage with us on,,and.POSITION SUMMARYReporting to the Senior Vice President ofAsset Management,The Director of Asset Management will lead a team of asset managers and analysts in the execution of strategic business plans and portfolio management that consists of operating assets in Detroit and Cleveland, including office, retail, parking, multifamily, hospitality, and industrial uses. This leader will participate in setting the vision on how to enhance the asset value, increase property net operating income, and provide leadership and mentoring to the team.ESSENTIAL FUNCTIONS

  • Leads the Asset Management team to execute upon identified strategies and deliver results consistent with the near- and long-term strategic goals of the company
  • Partners with the Senior Vice President OFAsset Management,on the development of objectives related to the portfolio, and evaluation inclusive of cost savings and revenue generation activities on various opportunities within the existing portfolio, with particular emphasis on financial underwriting and asset strategy
  • Provides analysis and decision-making for strategic business decisions including investment opportunities, capital project spending, and capital structure execution
  • Maintain a thorough understanding of all factors affecting markets and submarkets associated with the portfolio, including demographics and changes in supply and demand
  • Coordinate annual property budget and business plans with various Bedrock team stakeholders
  • Reviews monthly and quarterly financial and variance reporting and holdsthe team accountable for financial metrics and goals
  • Oversees communication amongst property-specific Bedrock teams to assess and improve investment performance and leverage pertinent information for investor reporting purposes
  • In collaboration with Property Management, monitors tenant delinquencies and implements key strategic initiatives for Bedrock's senior and executive leaders
  • Identifies opportunities for financing or refinancing stabilized assets and collaborates with the finance team in sourcing the capital
  • Collaborate and support acquisitions teamwith business plan development for new acquisitions as needed in their efforts to source capital for acquiringnew properties
  • Manages long-term forecasting models and track performance, return, and value metrics
  • Collaborate with leasing team to identify lease opportunities that meet or exceed budgeted assumptions and achieve business plan
  • All other duties as assignedLEADERSHIP ATTRIBUTES
    • Drives the culture: Communicates the culture's value to team members and holds them accountable for living it every day
    • Develops People: Sets clear expectations, deliverstimely and effective feedback, and encourages team members to develop their talents
    • Builds Trust: Demonstrates a high degree of integrity by honoring commitments, telling thetruth, and respecting confidentiality appropriately
    • Thinks Strategically: Clearly understand the business, lead the team through the problem-solving process and work on the business not just in the business
    • Communicates Effectively: Recognizes how words,tone, and physiology impact results, then adapt accordingly to gain buy-in and alignment for the team's and organization's visionPOSITION REQUIREMENTS
      • Bachelor's Degree in Finance, Business, Real Estate or similar field or equivalent education, training, and experience (Required)
      • MBA (Preferred)
      • CFA or CPA (Preferred)
        • Minimum of 7 years of direct experience in asset management and leading a team(Required)POSITION QUALIFICATIONS
          • Professionally attends to details
          • Actively Identify Problems and solutions
          • Multi-Tasks with the ability to prioritize
          • Analyze situations to determine the best course of action
          • Communicate effectively and professionally with relevant stakeholders, internal and external, from a variety of backgrounds
          • Knowledge and understanding of the organization for an owner and developer of real estate, including corporate strategies and objectives
          • Plans, coordinates, follows through, and organizes work projects to ensure efficiency
          • Work independently
          • Works under the pressure of deadlines
          • Works collectively with a wide variety of stakeholders
          • Interprets market trends, third-party market reports, and operator market competitor surveys
          • Defines, develops, and executes asset management strategyThe above statements are intended to describe the general nature and level of work being performed by people assigned to this job. They are not intended to be an exhaustive list of all responsibilities and may be modified periodically.DISCLAIMERThis job description should not be construed as an exhaustive list of duties and responsibilities performed by persons assigned to this classification. It is not intended to limit or in any way modify the right of any supervisor or manager to assign, direct and control the work of employees under his/her supervision. All principal duties and responsibilities of this position are essential functions of the position. Job descriptions are reviewed on a regular basis and may be revised at any time. Revisions will be communicated to employees within the classification. This job description does not constitute a contract of employment; therefore, the company may exercise its employment-at-will rights at any time.BEDROCK IS AN EQUAL-OPPORTUNITY EMPLOYER.

Keywords: Rock Central LLC, Detroit , Director, Asset Management, Executive , Detroit, Michigan

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